Chairman and CEO Thomas Prisby Retires After Nearly 30 Years of Service

CFS Bancorp, Inc.

today announced the retirement of Thomas F. Prisby, Chairman and Chief Executive Officer of the Company and the Bank, after almost 30 years of service and leadership, effective December 30, 2011. In connection with his retirement, Mr. Prisby has been appointed and will serve as Chairman Emeritus of the Bank until December 31, 2013. Mr. Prisby joined the Bank in 1982. He served as President and Chief Operating Officer of the Bank from 1989 until becoming Chairman and CEO in 1996. He has served as Chairman and CEO of the Company since its incorporation in 1998. During his tenure, the Bank grew from three branches in Indiana and $225 million in assets to 22 branches in both Indiana and Illinois and $1.2 billion in assets at September 30, 2011. Under his leadership, the Company successfully completed its IPO and simultaneous acquisition of SuburbFed Financial Corporation in July 1998. The Bank was named Best in Customer Service among financial institutions and Best Place to Work in 2011 by The Northwest Indiana Times, and a Chicago Tribune Top Workplace in 2010 and 2011. Mr. Prisby was also named one of the leading CEOs in Northwest Indiana in 2011.